Abu Dhabi-based energy infrastructure platform ePointZero has announced plans to acquire a 90 per cent stake in Azura Power Holdings Limited, a transaction that would place Nigeria’s 461MW Azura-Edo power plant under new majority ownership.
The proposed deal remains subject to regulatory approvals and other customary closing conditions.
Under the arrangement, ePointZero, a subsidiary of 2PointZero Group, will acquire the interests held by Actis and Africa50 through an investment vehicle established with Amaya Capital.
Amaya, which founded Azura Power in 2010, will retain a 10 per cent minority stake.
Azura currently operates 752MW of electricity generation capacity across Nigeria, Senegal and Mozambique.
Its assets include the 461MW Azura-Edo plant in Nigeria, the 116MW Tobene facility in Senegal and the 175MW CTRG plant in Mozambique.
The company also has a development pipeline exceeding 1.5GW across gas-fired generation, renewable energy and battery-energy storage projects.
ePointZero said the transaction would give it immediate scale in African power generation through an established platform with operating assets, long-term contracts and an experienced management team.
The company said Azura’s facilities provide significant baseload power in each of their respective markets.
2PointZero Chairman Sheikh Zayed bin Hamdan bin Zayed Al Nahyan described reliable electricity as fundamental to industrial development, economic growth and long-term prosperity.
Vice Chair and Managing Director Mariam Almheiri said the acquisition reflected the group’s strategy of investing in infrastructure businesses with strong fundamentals and long-term growth potential.
ePointZero Chief Executive Mohamed Hesham said Azura combined critical operating assets with an experienced team and exposure to markets where electricity demand was expected to expand significantly.
Azura Group Chief Executive Dave Peacock described the transaction as a major milestone and said the new shareholder structure could support faster growth across Africa.
Azura’s existing projects are supported by long-term Power Purchase Agreements and have attracted financing from major development finance institutions.
For Nigeria, the deal represents another important ownership change around Azura-Edo, one of the country’s leading independent power projects. The transaction comes as electricity demand across Africa continues to rise amid population growth, urbanization and industrialization, while access to reliable power remains limited in many parts of Sub-Saharan Africa
